Emerald is not an operable mortgage. Collateral refers to the collateral that the debtor (mortgagor) transfers to the creditor (mortgagee) to guarantee the performance of an obligation. It can be tangible property or registered intangible property, such as superficies, government bonds and life insurance. In some countries, it is divided into chattel mortgage and real estate mortgage. The former is movable property, including negotiable instruments and ownership certificates. The latter such as land and buildings.

Mortgage loan can only be operated if there is collateral value.